There are two legal theories that govern how marital property is divided: Community Property or Equitable distribution. Most states use equitable distribution when deciding the division of property during divorce. Only nine states have community property laws, they include:
- Arizona
- Californa
- Idaho
- Louisiana
- Nevada
- New Mexico
- Texas
- Washington
- Wisconsin
Community Property:
In community property states, all property the couple acquires during the marriage is divided equally. Issues such as financial need, ability to earn income or fault are not taken into account when dividing property during a divorce settlement.
Nevertheless, not all property is considered marital property and the definition of marital property can vary from state to state. Normally, marital property includes...read more about community property
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